The desired level of assurance is defined as
A) the level of assurance that the account balance or class of transactions is not misstated
B) the amount of misstatement,on the basis of the auditor's professional judgment,that should be present in the account balance or class of transactions
C) the maximum misstatement in the account balance or class of transactions that the auditor is willing to accept
D) the level of audit risk the auditor is willing to accept
E) the level of assurance that the tolerable misstatement is exceeded by the actual misstatement
F) both A and B
G) both C and D
H) Both D and E
Correct Answer:
Verified
Q57: With monetary unit sampling,a random start is
A)a
Q58: The population for a substantive test of
Q59: If the projected misstatement is less than
Q60: The auditor makes the decision about whether
Q61: To obtain the likely misstatements for the
Q63: Assume that you are the auditor
Q64: You are responsible for planning the audit
Q65: The auditor makes the decision about whether
Q66: The auditor makes the decision about whether
Q67: To evaluate the non-statistical sample,the auditor uses
A)probability
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